As the momentum continues to build in the fast-moving hydrogen space, the potential for new hydrogen hotspots continues to be explored across different regions and geographies. Studies are conducted and published, stakeholders explore collaboration, and new associations or coordinators are established.
Singapore is no different.
The country is already a business and travel hub, and a robust economic powerhouse of the emerging Asia-Pacific region. In fact, according to gasworld Business Intelligence, between 2008 and 2018 GDP grew by an average of 6.1% p.a (per annum) in Singapore, with a 2% growth rate in 2018.
Likewise, Singapore is home to a highly sophisticated chemicals, oil and gas and industrial gases market, with significant pipeline and onsite supply infrastructure for a variety of gases including nitrogen, oxygen, hydrogen and syngas. Most gas production plants are less than 20 years old and generally well maintained too.
And the commercial gas market in Singapore has experienced good growth over the course of the last decade. The growth in the market did slow in the worst years of the financial crisis, however the market quickly recovered and when looking at 2018 for example, the rate of growth remained high at 7.8%.
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